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Appendix E: Relevant News Articles (cont.) <br />Copyright 2004 Dolan Media Newswires <br />Finance & Commerce (Minneapolis, MN) <br />October 7, 2004 Thursday <br />SECTION: NEWS <br />LENGTH: 127 words <br />HEADLINE: K. Hovnanian Homes launches first Twin Cities project <br />BYLINE: staff <br />BODY: <br />K. Hovnanian Homes, a national homebuilder that entered the Twin Cities market in March, has <br />announced its first project -Twin Lakes Estates in Elk River. <br />The community will include 147 single-family homes that range from about 2,000 square feet to almost <br />2,900 square feet. Sales are expected to begin this winter with first deliveries coming in late 2005 or early <br />2006. Prices will start at about $300,000. <br />Tom Standke, division president of K. Hovnanian in Minnesota, described Elk River as a "pretty and <br />vibrant town that is growing intelligently." <br />Standke said the firm -the eighth largest homebuilder in the country - is also looking for opportunities that <br />will enable it to build townhouses and active-adult communities in the Twin Cities. <br />LOAD-DATE: October 8, 2004 <br />